1545 70Th St Miami, FL 33147

Property Details for 1545 70Th St

Year built

1953

Property type

Small apartment buildings

Description

This 1-story, 1953-built apartment building in Miami, Florida, presents a compelling investment opportunity. Located at 1545 NW 70th St, Miami, FL 33147, this property is currently configured as a duplex with two units: a 3-bedroom, 2-bathroom unit and a 2-bedroom, 2-bathroom unit. Significant renovations have already been undertaken, including the replacement of plumbing, flooring, bathrooms, kitchen, and interior paint. However, the property requires the completion of several key improvements, including electrical wiring and the installation of appliances. There is an existing unsafe structure violation related to an unauthorized addition at the rear of the property. The buyer will assume responsibility for addressing this violation and obtaining the necessary permits to legalize the structure, either as a duplex or a larger single-family home. The seller guarantees a clear title at closing, free of any encumbrances other than the aforementioned unsafe structure violation. The property's potential value, once fully renovated and legalized as a duplex, is estimated to be upwards of $600,000. This presents a significant upside for the discerning investor willing to undertake the necessary improvements and legal processes. The property is situated in Miami-Dade County and offers a rare chance to acquire a multifamily property at a significantly discounted price, allowing for substantial profit upon completion of the renovations and legal compliance.